More from the Company Monthly Newsletter January 2019
During the month of January, we have focused on testing and production issues, had meetings with suppliers, issued an invitation to an extraordinary general meeting and hired an experienced software engineer.
We have continued to test different parts of the system and to optimize production. Bespoke tools to optimize the production of our Nasal Cooling Kits have been ordered to create synergies, save both material and assembly time, and enable more efficient large-scale production with a minimum of manual handling. Our partners are actively involved in our efforts to lower our production costs.
We invited our shareholders to an extraordinary general meeting. It will be held on 18 February at 17.00 in QuickCool’s premises in Lund. Please read more on our website. In summary, the Board of Directors proposes that the EGM decides to change the articles of association so as to enable the aggregation of shares. The aggregation of the company's shares in the ratio of 1:10, means that ten (10) existing shares are exchanged for one (1) new share of the same type. Today's low share value results in unacceptable large differences between buying and selling rates, which is unfavorable to those who want to trade in the company's share.
In order to allow for the aggregation of the shares under the proposal, the Board of Directors proposes that the articles of association (§ 4) and the company's shares (§ 5) be amended according to the proposal.
The proposal means that the share capital of the company is reduced by the provision to non-restricted equity. The decrease should result in a new quota value of SEK 1 per share, which is why the reduction amount depends on the share capital at the time of registration.
Jonas Wahlfrid starts next week (February 4) his employment at QuickCool as a Senior Embedded Software Engineer. Jonas has a Master in computer science and long work experience as both automation- as well as software engineer. His specific expertise in control engineering is particularly valuable to QuickCool AB. In the future, he will be responsible for optimizing the QuickCool® SYSTEM and for developing the next generation of cooling systems. Jonas will teach our distributors and customers on our solutions, and handle future service and maintenance issues.
Follow us on LinkedIn. Additional information about QuickCool and our solution may be found on our homepage: http://www.quickcool.se/en/home.html
Kind regards,
Fredrik
Fredrik Radencrantz
CEO
QuickCool AB
Ideon Science Park
Beta 6, Scheelevägen 17 - SE-223 70 Lund - Sweden
E-mail: fredrik.radencrantz@quickcool.se Web: www.quickcool.se
Mobile +46 (0)73 834 1188
QuickCool is a Swedish medical technology company, whose business concept is to save lives and prevent brain damage in acute ischemia (Inadequate blood supply to the brain) by developing and providing a unique and globally patented cooling system, the QuickCool® SYSTEM. QuickCool is active in the fast-growing market, Targeted Temperature Management (TTM), for brain-protective cooling treatment of patients with e.g. acute cardiac arrest and stroke. QuickCool’s solution protects the brain by cooling in the nasal cavity and thus takes advantage of the innate heat exchanger in the nose. QuickCool’s Intranasal method offers gentle and uninterrupted cooling treatment for sedated patients. QuickCool is listed on Spotlight Stock Market and conducts its business at Ideon Science Park in Lund. For more Information, please refer to www.quickcool.se
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